The on-going semi-conductor chip shortages and expansion plans would continue to favour the technology sector, Malacca Securities said in a note.
It said that the plantation sector may continue to outperform, taking a cue from the release of upbeat corporate results of KLK and BKAWAN.
Looking at the day ahead, the stockbroking firm said while the FBM KLCI is overbought, it thinks that further upsides are still on the table as buying momentum may persist over the well-contained volatility on Wall Street overnight and the sustained buying interests from foreign funds that recorded the 8th straight session of inflow yesterday.
Malacca Securities said that the lower liners are expected to remain supported by the on-going batch of corporate earnings that may provide some pockets of trading opportunities over the near term.
On Bursa’s performance, it said that the FBM KLCI (+0.2%) trended higher for the sixth straight session as gains were in line with the positive developments across regional peers yesterday.
The stockbroking firm said that the lower liners, however, closed mixed, while the broader market ended mostly positive, led by the technology sector (+1.4%).
